EUEA.AS vs. EMNU.DE
EUEA.AS (iShares EURO STOXX 50 UCITS ETF) and EMNU.DE (iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)) are both Europe Equities funds from iShares - EUEA.AS tracks the MSCI EMU NR EUR while EMNU.DE tracks the MSCI Europe ESG Enhanced Focus. Both are passively managed. Over the past 5 years, EUEA.AS returned 11.52%/yr vs 8.68%/yr for EMNU.DE. Their correlation of 0.94 suggests significant overlap in exposure. EUEA.AS charges 0.10%/yr vs 0.12%/yr for EMNU.DE.
Performance
EUEA.AS vs. EMNU.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EUEA.AS having a 7.45% return and EMNU.DE slightly higher at 7.48%.
EUEA.AS
- 1D
- 0.82%
- 1M
- 4.69%
- YTD
- 7.45%
- 6M
- 8.63%
- 1Y
- 15.80%
- 3Y*
- 15.60%
- 5Y*
- 11.52%
- 10Y*
- 10.53%
EMNU.DE
- 1D
- 0.54%
- 1M
- 3.45%
- YTD
- 7.48%
- 6M
- 10.07%
- 1Y
- 15.83%
- 3Y*
- 12.86%
- 5Y*
- 8.68%
- 10Y*
- —
EUEA.AS vs. EMNU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EUEA.AS iShares EURO STOXX 50 UCITS ETF | 7.45% | 21.70% | 11.49% | 23.09% | -9.29% | 24.04% | -2.55% | 11.80% |
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 7.48% | 17.95% | 7.97% | 15.57% | -12.29% | 25.49% | -1.40% | 11.32% |
Correlation
The correlation between EUEA.AS and EMNU.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.94 |
The correlation between EUEA.AS and EMNU.DE has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
EUEA.AS vs. EMNU.DE — Risk / Return Rank
EUEA.AS
EMNU.DE
EUEA.AS vs. EMNU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EURO STOXX 50 UCITS ETF (EUEA.AS) and iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| EUEA.AS | EMNU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.58 | -0.15 |
| Martin ratioReturn relative to average drawdown | 4.86 | 5.60 | -0.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EUEA.AS | EMNU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.99 | 1.20 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.60 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.57 | -0.45 |
Drawdowns
EUEA.AS vs. EMNU.DE - Drawdown Comparison
The maximum EUEA.AS drawdown since its inception was -62.53%, which is greater than EMNU.DE's maximum drawdown of -34.85%. Use the drawdown chart below to compare losses from any high point for EUEA.AS and EMNU.DE.
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Drawdown Indicators
| EUEA.AS | EMNU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.53% | -34.85% | -27.68% |
Max Drawdown (1Y)Largest decline over 1 year | -10.91% | -10.00% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -16.32% | -16.42% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -23.35% | -21.72% | -1.63% |
Max Drawdown (10Y)Largest decline over 10 years | -38.22% | — | — |
Current DrawdownCurrent decline from peak | -0.49% | -1.59% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -24.30% | -5.31% | -18.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 2.82% | +0.40% |
Volatility
EUEA.AS vs. EMNU.DE - Volatility Comparison
iShares EURO STOXX 50 UCITS ETF (EUEA.AS) has a higher volatility of 4.91% compared to iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) at 4.34%. This indicates that EUEA.AS's price experiences larger fluctuations and is considered to be riskier than EMNU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUEA.AS | EMNU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 4.34% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 12.92% | 10.77% | +2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.80% | 13.16% | +2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.37% | 14.40% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 16.59% | +1.52% |
EUEA.AS vs. EMNU.DE - Expense Ratio Comparison
EUEA.AS has a 0.10% expense ratio, which is lower than EMNU.DE's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EUEA.AS vs. EMNU.DE - Dividend Comparison
EUEA.AS's dividend yield for the trailing twelve months is around 2.55%, more than EMNU.DE's 2.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 2.40% | 2.58% | 2.92% | 2.80% | 3.02% | 2.25% | 1.90% | 2.63% | 0.00% | 0.00% | 0.00% | 0.00% |
EUEA.AS iShares EURO STOXX 50 UCITS ETF | 2.55% | 2.52% | 3.01% | 3.02% | 2.94% | 2.05% | 2.16% | 3.05% | 3.67% | 2.85% | 3.38% | 2.96% |
Frequently Asked Questions
With a correlation of 0.93, EUEA.AS and EMNU.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, EUEA.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUEA.AS is cheaper with a 0.10% expense ratio, compared with 0.12% for EMNU.DE.
EUEA.AS tracks MSCI EMU NR EUR, while EMNU.DE tracks MSCI Europe ESG Enhanced Focus. Their fees differ too: 0.10% for EUEA.AS and 0.12% for EMNU.DE.
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